Fraud, Scams & Cybercrime

    Reporting on fraud schemes, cyber attacks targeting financial systems, regulatory responses, and advancements in fraud prevention technologies.

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    PEPs & Sanctions

    OFAC Unveils New Sanctions Against Iranian Cyber Actors

    By Editors | 24/04/2024

    Two entities and four individuals were sanctioned for the roles in targeting US entities with ransomware, spear phishing and malware attacks.

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    Supervision & Enforcement

    Bankman-Fried to Help Investors Pursue Celebrities Who Endorsed FTX

    By Nithya Subramanian | 23/04/2024

    Sam Bankman-Fried has agreed to help a group of investors pursue civil claims against celebrity endorsers of FTX, potentially freeing himself from civil liability.

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    Cryptocurrency

    Thailand to Start Blocking Unlicensed Crypto Providers

    By Sanday Chongo Kabange | 23/04/2024

    Thailand’s SEC and MDES will start blocking unlicensed digital asset platforms in the country to curb money laundering and online crime.

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    Fraud, Scams & Cybercrime

    MAS Issues 12yr Ban Against Former Manulife Agent

    By Nithya Subramanian | 23/04/2024

    The former agent was convicted last August for deceiving 25 victims to transfer more than S$1.2mn for fictitious investments.

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    Fraud, Scams & Cybercrime

    HK Police Offers Update on JPEX Fraud Investigation

    By Mark Johnston | 23/04/2024

    A total 72 individuals have been arrested and HKD 228 million worth of assets have been seized in connection with JPEX.

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    Cybersecurity

    HKMA Proposes Revisions to E-banking Risk Management Requirements

    By Manesh Samtani | 22/04/2024

    HKMA’s revised SPM Module incorporates additional requirements on electronic banking security and expands the obligations to payment card transactions.

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    Fraud, Scams & Cybercrime

    Australian Court Fines Macquarie for Inadequate Controls

    By Editors | 21/04/2024

    Macquarie failed to prevent a now jailed financial adviser from fraudulently withdrawing A$2.9mn from customer accounts between 2016 and 2019.

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    Fraud, Scams & Cybercrime

    NZBA Calls for Scam Prevention Support from Government

    By Sanday Chongo Kabange | 19/04/2024

    The NZBA wants the government to set anti-scam expectations for other industries in the scam ecosystem besides banking.

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    Fraud, Scams & Cybercrime

    MAS Bans Former Prudential Representative for 8 Years

    By Nithya Subramanian | 19/04/2024

    The former insurance agent used client funds for personal expenses rather than to pay the client’s premiums.

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    Anti-Bribery & Corruption

    Former PBOC Deputy Governor Pleads Guilty for Accepting Bribes

    By Editors | 18/04/2024

    Fan Yifei abused his positions and took bribes from 1993 to 2022, while at China Construction Bank, China Investment Corp, Bank of Shanghai and the PBOC.

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